Voltas, a Tata group company, has approved a proposal for transfer its chemicals trading business as a going concern, to DKSH India, a wholly-owned subsidiary of DKSH Holding, Zurich for a lumpsum consideration of Rs 20 crore, subject to certain adjustments, if any and to represent any change in the net asset value of the chemicals trading business on the closing date of the transaction.
The consent of the major principals have been received. The directors at its meeting held on January 22, 2009, has approved the notice of the Postal Ballot, which would be sent to the shareholders to seek their approval for transfer of the chemicals trading business.